News that the Reserve Bank Australia has lifted the interest rate 25 basis points from 6 per cent to 6.25 per cent took the local stockmarket on a day's decline.
LibertyOne (LIB) was dreary following news that Chinese Books CyberStore -- of which LibertyOne took a 25 percent stake last September -- is going into voluntary liquidation. It will be over a month before it is known whether or not LibertyOne will receive a return from the liquidation process. Shares in the Internet solutions provider were down 8.2 percent at 23 cents.
BMC Media's (BMC) shares were spiralling downward in the day's trade -- a 12.5 percent downfall at day's end, saw shares trading at 91cents. MultiEmedia (MUL) also lost 7.3 percent to trade at 26 cents.
E*Trade (ETR) pulled itself of early negative territory after announcing a marketing relationship with Hilton HHonors Worldwide. Hilton HHonors members will be rewarded with 5,000 HHonors bonus points when they open an E*Trade account. Shares in the online broker were up 3 percent to AU$2.47 in afternoon trade.
SecureNet (SNX) announced the addition of a third partner to Cable & Wireless HKT SecureNet Limited -- its Hong Kong-based JV with Cable & Wireless HKT. The Hongkong and Shanghai Banking Corporation Limited's subsidiary Hang Seng Bank Limited (HSBC) will pay US$16 million for a 16 percent share of the expanded joint venture.
"HSBC's investment recognises some of the initial value created within the joint venture in its first year of operations. The addition of a third major organisation into the business will allow the venture to accelerate its development into a significant player in the e-commerce security market in the region," SecureNet MD Geoffrey Ross said.
SecureNet shares were down in morning trade and a 3.8 percent rise took its share price to AU$9.45 on the back of the news.
